NOMURA: India's Lower House Just Passed A Food Bill That's Going To Make Its Economic Situation Even Worsehttp://www.businessinsider.com/nomura-on-the-indian-food-bill-2013-8/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Fri, 09 Dec 2016 23:00:09 -0500Joe Weisenthalhttp://www.businessinsider.com/c/521cf03969bedda4563a6b9cCard GameTue, 27 Aug 2013 14:30:17 -0400http://www.businessinsider.com/c/521cf03969bedda4563a6b9c
Whether this new initiative does any good or not, a revolution is coming though it might take another generation.http://www.businessinsider.com/c/521cc18decad04bd223a6b8edTue, 27 Aug 2013 11:11:09 -0400http://www.businessinsider.com/c/521cc18decad04bd223a6b8e
"most of the money will be siphoned off by unscrupulous politicians and most of the grain will lie rotting"
just like all the government owned grain does now.
its obscene people stave down the road from rotting piles of government owned grain.http://www.businessinsider.com/c/521cb5336bb3f7cf132ad431rjb_bostonTue, 27 Aug 2013 10:18:27 -0400http://www.businessinsider.com/c/521cb5336bb3f7cf132ad431
errr. unlikely. most of the money will be siphoned off by unscrupulous politicians and most of the grain will lie rotting because of a depleted infrastructure. truth hurts.http://www.businessinsider.com/c/521c902d69beddca7cf8c801James DTue, 27 Aug 2013 07:40:29 -0400http://www.businessinsider.com/c/521c902d69beddca7cf8c801
But on the plus side, millions won't go hungry and it will save thousands from dying of hunger and malnutrition.http://www.businessinsider.com/c/521c7e9a6bb3f7b5262ad44achinaman101Tue, 27 Aug 2013 06:25:30 -0400http://www.businessinsider.com/c/521c7e9a6bb3f7b5262ad44a
Your unhealthy obsession with China will be India's downfall. The best scenario, as shown throughout 5000+ years of recorded history, is to specialize, and trade with your neighbors to fill in the gaps. Comparative advantage duh! And your use of volatile commodities as a denominator, which are traded on international exchanges, beyond your government's control is just, for a lack of better word. pure suicide. Adding your your proposed regulations is just going to further lower India's competitiveness, in the face of fellow emerging markets. You may also wish to take a few pointers from China, such as adopting one or two-child policy and implementing policies for the "greater good", which may be painful in the short term, instead of being a populist to win elections.http://www.businessinsider.com/c/521c7139ecad043e7d2ad432Kamal Kant Tue, 27 Aug 2013 05:28:25 -0400http://www.businessinsider.com/c/521c7139ecad043e7d2ad432
FOOD FOR THOUGHT ...
The Worst thing Indian Parliamentarians can do at this stage is pass the FOOD SUBSIDY BILL, which in my view will be the CLASS STUPIDITY of the CENTURY, only for gaining Votes in forthcoming election & no consideration of COUNTRY. This will be the last nail in India's Coffin. MNREGA Bill passed was another such gross stupidity.
From statue’s of Gods to National Flag – all are being imported from China.
From Shoes to Clothes to household goods are being imported to China. Plants, Machinery, Chemicals are being imported from China in name of lower cost & OUTGO of forex.
China’s incursions into Indian territory is treated lightly.
The cost of import, add duty, add pain of Forex & CAD makes me wonder which economics is sensible ?
Will it not make sense to restart an Industrial revolution in India again – where micro, mini, small, medium, scale industries are set up & operated & allowed to sell with reduced element of tax.
Stopping MNREGA & promoting this will ensure at least one small industry / artisan centre / medium scale industry in every village in India & develop local talent.
This will also stop outflow of FOREX.
Imagine a scenario – where INDIA stops buying anything / everything from China. China’s economy will suffer a major setback & prices will increase due to no buying.
Agreed in short term prices may rise. In the Long run INDIA’s national WEALTH shall increase manifolds.
This will force foreign companies to Invest in India to manufacture in order to capture the immense potential of Indian market.
Make INR a 100% convertible currency for purpose of IMPORTS only.
Investments made in FOREX for setting up Industry in India can only be repatriated from profits after investing the profits for a minimum period of 10 years in India in Interest free Govt. Gold / Silver Bonds, which will be backed by physical stock in Gold / Silver. (By 10 Years means – 1st Years profit invested will be paid in 11th Year & 2nd years profit during 12th Year).
NRI’s sending money to India should be in form of physical GOLD / SILVER – which will be converted into INR & paid to person(s) / companies / intended for.
All payments received against exports be converted into physical GOLD / SILVER & stored in INDIA & paid to exporter in INR.
All imports be paid in INR which can be converted by seller in whichever currency they wish.